IntercontinentalExchange (ICE)

IntercontinentalExchange was founded in 2000; the exchange specializes in commodity and derivatives trading.

History

2023: Launch of parallel gas hub in London to bypass EU price cap mechanism

In January 2023, it became known that the exchange operator Intercontinental Exchange Inc. (ICE), which runs the European gas hub TTF (Title Transfer Facility), will launch a parallel gas hub in London to bypass the EU price cap mechanism.

The new market for TTF futures and options will start operating on the London site of ICE Futures Europe from February 20, five days after the EU imposes a gas price cap, ICE said in a press release.

2022: Statement on the possible withdrawal of the European trading hub outside the EU due to gas price restrictions

Intercontinental Exchange (ICE) in December 2022 warned that it could be forced to move its European trade hub outside the European Union if the bloc continues to implement plans to limit gas prices, writes The Wall Street Journal, citing a statement by the exchange operator.

ICE operates the region's Amsterdam-based reference hub, Title Transfer Facility (TTF).

2021: $1.23 billion sale of all shares in crypto exchange Coinbase

In April 2021, Intercontinental Exchange (ICE), operator of the New York Stock Exchange and Bakkt platform, fully sold Coinbase $1.23 billion in crypto exchange shares.

The proceeds will go to profit for the second quarter of this year.

2012: NYSE Euronext Purchase

In December 2012, it became known that the IntercontinentalExchange (ICE) electronic exchange agreed to purchase the largest stock market operator (by capitalization of circulating companies) NYSE Euronext. The deal will cost $8.2 billion.

ICE is going to pay two-thirds of the amount in stock and the rest in money. The deal is scheduled to be completed in the second half of 2013.

IntercontinentalExchange has previously attempted to take over NYSE Euronext. In March 2011, the electronic exchange, together with NASDAQ OMX Group, offered $11 billion for the asset. With the successful completion of the transaction, the partners planned to split the business: ICE was interested in derivatives, and Nasdaq was interested in stock trading. The deal fell through after the US Department of Justice said it would not approve it.

After that, Deutsche Boerse remained the only contender for the NYSE Euronext merger, which even before ICE and Nasdaq agreed to buy out the asset for $9.5 billion, but the latter outbid this application.

The merger of NYSE Euronext with Deutsche Boerse also fell through, as the European Commission blocked the deal.

The Wall Street Journal writes that this time regulators should have no complaints about the deal, as exchanges develop different directions in securities trading. In addition, according to an unnamed source of the publication, after the completion of the transaction, the NYSE Euronext business in France, the Netherlands, Portugal and Belgium can be put up for sale.